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Gold Loan in Madurai 2022

Apply for Gold loan in Madurai

Last Updated 22nd May 2022

  • Gold loan interest rate in Madurai starts at 9.00%.
  • The LTV ratio for gold loans goes up to 75% of the value of the gold.
  • You can avail a gold loan in Madurai from top Banks like SBI, Axis Bank, Yes Bank, PNB and ICICI Bank among others.
  • Best Gold Loans in Madurai are offered by Muthoot and Manapurram.
  • Apply for Instant Gold Loan online in Madurai without income proof.
Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Voucher
Madurai

Gold Loan in Madurai

Gold loan is a popular credit facility in Madurai. There are many gold loan companies in Madurai that offer gold loans at affordable interest rates. The loan is availed by keeping the gold as mortgage to borrow a loan amount as per the LTV ratio of the gold which ranges up to 75% as per RBI Guidelines. Gold loan interest rate in Madurai begins from 9.00%.

Documents Required for Gold Loan in Madurai

Gold loans are the easiest to avail credit facility in Madurai. This is because the loan can be borrowed by people from all occupations and backgrounds. Therefore, the document check is also limited to identity and address proofs.

A list of documents required to avail a gold loan in Madurai are mentioned as follows:

  • Gold loan application form
  • Passport size photographs
  • Identity proofs such as Passport, voter ID card, PAN card and Aadhar card
  • Address proof such as passport, driving license, aadhar card, rent agreement, Voter iD card and utility bills such as water electricity, gas, or telephone bill

Top Banks Offers Jewel Loan in Madurai

Bank Interest Rate Loan Tenure Maximum Loan Amount
Axis Bank14.00%24 months₹ 20 Lakh
ICICI Bank10.00%12 months₹ 10 Lakh
IndusInd Bank9.00%24 months₹ 10 Lakh
PNB7.65%12 months₹ 10 Lakh
SBI7.50%36 months₹ 50 Lakh
HDFC Bank9.00%24 months₹ 10 Lakh
Federal Bank7.39%12 months₹ 75 Lakh
Andhra Bank7.35%12 months₹ 2 Cr
Canara Bank7.65%12 months₹ 20 Lakh

About Madurai

Madurai is a city situated in Tamil Nadu on Vaigai River. The city has most outsatnding dravidian concept a hindu pilgrimages. People visit the city for Meenakshi Amman temple. Population:1,734,000

Reasons to Apply for Gold Loan

Gold loan to Purchase necessary Appliance

In India gold loans do not have end usage restriction. You can avail gold loan to buy an appliance for personal use or for business purpose. There are various lenders offering such loan in Madurai, select the one according to your financial needs.

Gold loan to Cover Wedding expenses

To meet the weeding expenses, financial institutions like Muthoot, Manappuram, Yes Bank and HDFC Bank offer gold loan in Madurai. All you need to do visit the nearest bank branch or apply online and submit identity proof and address proof.

FAQs

What is the interest rate for gold loan Madurai?

Gold loan interest rate in Madurai varies across various gold loan lenders. However, currently, the lowest gold loan interest rate in Madurai is 9.00%.

Which bank is best for gold loan Madurai?

Currently, Axis Bank offers the lowest gold loan interest rate in Madurai of 9.00%. In addition to that, Axis Bank offers the maximum loan amount on Axis Bank gold loan of ₹ 2 Cr and can be the best bank for high-value loan requirements.

What is the maximum tenure for gold loan in Madurai?

You can get a loan against gold in Madurai for a maximum tenure of 36 months. However, the gold loan tenure for every lender is different.

What is the procedure of getting a gold loan for defaulters in Madurai?

The procedure to avail a gold loan is easy when compared to other types of loan, even for defaulters. Lenders do not check your credit score because anyway in gold loan your gold is mortgaged. If you will not repay the loan then your gold will be kept by the bank.

Who can apply for a loan against gold in Madurai?

The eligibility criteria for a loan against gold in Madurai may vary for every lender. The general criteria is, you should be above 18 years and have gold jewellery above 18 karat.

Is it safe to take a gold loan from Muthoot Finance Madurai and what are the timings and contact number of Muthoot Finance Madurai?

Yes, it is safe to take a gold loan from Muthoot Finance Madurai because it has A+ rating from CRISIL. You can visit the nearest branch anytime between 9:30 am to 6 pm or contact at 1800-102-1616.

Is it possible to get an instant gold loan from Manappuram gold loan in Madurai?

Yes, you can take an instant gold loan from Manappuram. You can avail Manappuram gold loan with minimal documentation. Also, you get free insurance for your gold from this bank.

What are the best gold loan companies in Madurai?

Axis Bank, HDFC Bank are the best companies for gold loan in Madurai. These lenders offer loans at a lowest interest rate of 9.00% respectively.


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